Scam figure who targeted retirees pleads guilty

The second of three men indicted on charges of running a Ponzi scheme that defrauded investors, mostly retirees, out of millions of dollars has pleaded guilty.

Donald Manning pleaded guilty in federal court Friday to one count of conspiracy and one count of wire fraud. Manning was the president of the Brixton Group, which prosecutors said targeted retirees'investment money and guaranteed large returns.

Most of the money was never invested, but instead new funds were used to pay off early investors. The money also was used for the personal benefit of Manning and his co-conspirators.

One of those co-conspirators, Cameron Campbell, was sentenced to 63 months in prison in April. The third defendant, Joseph Wayne McCool, remains at large.

Manning is to be sentenced April 15. He faces a maximum of five years in prison for each guilty count. –G.M.